The History of Fintech Transformation

Banking Transformed with Jim Marous · May 4, 2021 · 45m

In 2009, Shamir Karkal and several colleagues created the first digital-only bank of its kind in the U.S. Struggling to describe the benefits of a bank without branches, getting funding was a difficult process. As it turned out, Simple not only grew, but was one of the first neobanks to be acquired by a legacy financial institution.

When Shamir tried to generate interest for his new financial technology start-up, Sila, he generated $5 million in funding in only a few months … in a marketplace that readily embraces fintech start-ups today.

On the show, Shamir Karkal, Founder & CEO of Sila…